62.6 F
Fort Worth
Saturday, December 5, 2020
How Recent Political Changes Will Impact Your Bottom Line
Banking Bank of America announces $2.65 million jobs initiative for Texas Black and...

Bank of America announces $2.65 million jobs initiative for Texas Black and Hispanic-Latino students

Other News

Bank of America announces $1 billion to support economic opportunity initiatives

Bank of America announced June 2 that it is making a $1 billion, four-year commitment of additional support to help local communities address economic...

Bank of America announced a new multimillion dollar jobs initiative Nov. 19 to help students of color complete the education and training necessary to be successful in today’s workforce.

The initiative is part of the bank’s commitment to advancing racial equality and economic opportunity and builds on Bank of America’s ongoing work in Texas to address the underlying issues facing individuals and communities of color who have been disproportionately impacted by the current health crisis, the bank said in the announcement.
“Advancing economic mobility through education and workforce training is a priority for Bank of America in Texas and across the country,” said Jennifer Chandler, Dallas market president for Bank of America. “Creating meaningful career opportunities that include a pathway to reducing student debt, obtaining health care and retirement benefits will ultimately help Black and Hispanic-Latino students build net worth, help their families, and have ripple effects across our communities and greater economy.”

Dallas College-El Centro Campus and Prairie View A&M University are each receiving $1 million as part of the bank’s $25 million, nationwide initiative with partnerships at 21 higher education institutions, including community colleges, historically Black colleges and universities and Hispanic-serving institutions.

Also receiving funds are the University of Texas at Arlington, Texas Christian University and the University of North Texas.
Bank of America is also partnering with and providing funding to the Aspen Institute to convene the participating higher education institutions for technical and programmatic assistance and to share best practices.

“The current times have been very challenging and disruptive for our students, often causing them to question whether they can continue their studies,” said Dr. Ruth Simmons, president, Prairie View A&M University. “Efforts by Bank of America to encourage their persistence and ambition are very much needed and will create a pathway for many to remain enrolled and complete their education. We are grateful for the timeliness and generosity of these actions.”

Other funding in Texas went to Alamo Colleges/St. Philip’s Campus, Huston-Tillotson University, St. Edward’s University, Texas Southern University and the University of Texas at Austin.
The announced funding is in addition to the $15 million in philanthropic grants Bank of America has made to support education and workforce development in Texas over the past five years.

Today, less than 40% of community college students earn a certificate or degree within six years of enrollment, the news release said.

For students of color, graduation and completion rates are particularly low – 28.8% for Black students and 37.1% for Hispanic students. 2 The ongoing challenges stemming from the coronavirus have exacerbated the financial struggle of historically Black colleges and universities and Hispanic-serving institutions as they seek to serve students from the most vulnerable communities, the bank said.

Bank of America will work alongside other major employers in Texas to ensure these programs target the region’s specific hiring needs that will help Texan businesses grow and create clearly defined career pathways to future employment.
The initiative is part of the bank’s recent $1 billion, four-year commitment to advance racial equality and economic opportunity, and its $25 million commitment to enhance up-skilling and reskilling for Black and Hispanic-Latino individuals.
www.bankofamerica.com

close

Oh hi there 👋 It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

close

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Camp Fire First Texas welcomes new president/CEO

Camp Fire First Texas has selected Lauren Richard to become the next president/CEO of the organization Oct. 12. She will succeed Ann Sheets, who...

Texas Trust appoints Chief Growth Officer

Texas Trust Credit Union has appointed Ron Smith to the new role of Chief Growth Officer, charged with developing and executing data-driven strategies to...

Alto partners with Toys for Tots as ‘On Demand’ Santa returns

Alto announces partnership With Toys For Tots, return of on-demand Santa Alto, a Dallas-based rideshare and delivery company, has announced it will partner with national...

Biden to nominate Yellen, highlights diversity on econ team

WILMINGTON (AP) — President-elect Joe Biden on Monday announced his senior economic team, including his plans to nominate the first woman to head the...

Commentary: When to donate rewards to charity and when to give cash

By ERIN HURD of NerdWalletIf you're looking to give to charity this holiday season but don't want to dip into your bank account, donating...